On March 7, 2005, the Ohio Department of Transportation announced a change in the method of calculating the fixed fee (profit) portion of fees in consultant agreements. The new method used a statewide average overhead rate for all fixed
Construction analytics firm ProNovos is teaming with Somerset CPAs and Advisors to bring data-driven best practices for continuous improvement to contractors in the Midwest and across the country. As part of the strategic partnership, Atlanta-based ProNovos will make its
Are you an Ohio Disadvantaged Business Enterprise (DBE)? The Ohio Department of Transportation (ODOT) has just provided a new round of DBE Supportive Services funding. DBE companies will have up to $7,000 to be reimbursed for the purchase of training,
For most contractors bonding is imperative for a lot of jobs and especially larger jobs. Bonding provides assurance to the project owner that the contractor will perform the work and pay their subcontractors, laborers and material suppliers. Bonds are a
As a Contractor, Architecture/Engineering firm, or any owner of a business, are you looking for that key ingredient to maximize your company’s success, profitability and operational efficiencies? That key ingredient is the company’s employees. Attracting and retaining employees whose skills,
Somerset is proud to announce we have been named a Construction Executive Top 50 Construction Accounting Firm, with a ranking of 17! Click here to learn more about this inaugural ranking.
Somerset CPAs and Advisors Principals Howard Cox and Ken Hedlund recently appeared on The Construction Leading Edge Podcast, Episode #103: How Will You Get Out of Your Business? Succession and Exit Planning for Contractors. Click here to listen on iTunes,
The Ohio Department of Transportation’s Disadvantaged Business Enterprise Supportive Services Program is designed to assist DBE heavy highway construction and consulting firms working on heavy highway projects to compete and perform on federally funded heavy highway construction projects. The
On August 1, 2018, the US Senate approved a four-bill spending package for the Fiscal Year 2019 by a vote of 92-6. This is the second year under the two year budget agreement that raised the spending caps and
If you are in the construction industry and rent equipment, there is a new excise tax that will be charged on equipment that you rent starting January 1, 2019. This new excise tax will be assessed on heavy equipment and
The Indiana Department of Transportation (INDOT) recently shared their construction and engineering budget projections through Fiscal Year 2021, with the new funding from the House Enrolled Act 1002. Projects may shift from year to year for various reasons, meaning these
Are you looking to be more competitive in an ever changing global economy? Are you being asked to develop and improve designs and processes to be more forward thinking? Are you finding the cost of this constant development and
Somerset CPAs and Advisors is now part of CBIZ and MHM. Together, CBIZ and MHM are one of the Top Ten accounting providers in the country. Please click here for more information.
